USD Index Monthly and YearlyBased on the current price action in the USD index and the close of the month above the December highs, there is an expectation that the trend will continue towards the January highs.
If price had closed below December's highs, then I would look for a move down before price goes up, but at this stage I feel the trend will continue higher next week, putting pressure on currencies at the start of January.
AUD Quarterly and MonthlyThe trend is simply going to be defined by the January 50% levels (1st Quarter 50% level)
.8966-9006
Daily report out on Monday.
Euro Quarterly and monthlyEuro closed the Quarter below 1.4417, and at this stage the expectation is a move down towards the January lows, which match the 3-Quarter 50% levels.
Around those lower levels (Jan lows) I would then begin to look for larger counter-trend moves back towards the 3-month 50% levels @ 1.4561, but that up swing will need to be verifed with lesser timeframe patterns within the 5-day range.
GBP Quarterly and monthlyAt this stage GBP has a very similar pattern as the first week of the 4th Quarter.
And in the short-term the trend is going to be defined by those larger timeframe 50% levels @ 1.6171.
GBP WeeklyThe pattern that I favour is a down move from the monthly 50% levels.
However, on Thursday price closed above the 5-day highs, which might see a push upwards into the 5-day highs on Monday @ 1.6280.
If the market is going to continue down, it can't be trading above 1.6280, and it needs to be back under those higher timeframe 50% levels.
